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(HomeGarden247.com, October 04, 2019 ) The report "Guar Gum Market by Function (Thickening, Gelling, Binding, Friction Reducing), Application (Food & Beverages, Oil & Gas, Paper Manufacturing, Mining & Explosives, Pharmaceuticals & Cosmetics), Grade, and Region - Global Forecast to 2022", The market for guar gum is projected to grow at a CAGR of 7.9% from 2017 to 2022, to reach USD 1.15 billion by 2022. The growth of the guar gum market is driven by the rising demand for convenience foods in the food industry and growing demand for guar gum in the oil & gas industry. Growing awareness among consumers about health & nutrition has resulted in an increased interest in natural and organic products such as guar gum.
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Browse 89 market data tables and 38 figures spread through 162 pages and in-depth TOC on "Guar Gum Market - Global Forecast to 2022"
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The oil & gas segment, by application, is projected to be the largest revenue contributor in the guar gum market during the forecast period.
The oil & gas segment is accounted to hold the largest share in the guar gum market. In the oil field industry, guar gum is used as a deformer, surfactant, and synthetic polymer, which is suitable for all rheological requirements of water-based and brine-based drilling fluids. It enables fluid and water loss control, lubrication, and cooling of drill bits. A shift in focus towards unconventional sources of oil such as tight oil and shale oil, wherein guar gum is used for extraction, is projected to create potential opportunities for guar gum in the coming years.
The industrial-grade guar gum segment is projected to account for the fastest growth, by grade, during the forecast period.
The industrial-grade guar gum segment is projected to dominate the market during the forecast period. There has been high demand for guar gum in numerous industrial applications such as oil & gas, textile, painting, coating, mining & explosives, paper & printing, and detergents. Industrial-grade guar gum powder are used in various oil & gas industry applications such as oil well fracturing, oil well stimulation, oil recovery, oil well drilling, geological drilling, and water drilling, as it acts as a deformer, surfactant, and synthetic polymer in these applications. The rapid growth in oil drilling and oil recovery activities, along with increase in usage of guar gum for the extraction of unconventional sources of oil such as tight oil and shale oil, is expected to drive the demand for industrial-grade guar gum products.
The gelatin segment is projected to dominate the guar gum market, by type, during the forecast period.
The gelatin segment dominated the guar gum market in 2017 and is projected to dominate the market during the forecast period. The usage of gelatin as a gelling agent is projected to grow due to the increasing need for emulsifiers in the food & beverage industry in major markets such as Germany, the UK, and France.
The demand for the gelling segment, by function, is estimated to rise and dominate the guar gum market during the forecast period.
Guar gum finds application in various industries such as pharmaceuticals, personal care, and food, owing to its superior gelling property. Increasing demand for guar gum from pharmaceutical and personal care applications such as dental impression materials, dental treatment gels, dentifrice pastes gels, styling creams & gels, liquid soaps, and bath gels has been fueling the demand for guar gum.
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North America is projected to account for the largest market size during the forecast period.
North America is a dominant region in the global guar gum market. The market is projected to be driven by the rising growth of the oil & gas drilling industry in the forthcoming years. Factors influencing its market dominance include the high demand for functional dairy products, convenience foods, higher per capita consumption of baked goods, and presence of major players.
This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the guar gum market. It includes profiles of leading companies such as TIC Gums, Inc. (US) & Penford Corporation (US), Ashland Specialty Ingredients (US), and Cargill (US).
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